Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1887-08-06
,s Wheat Deal in San Fran.
:, Which the Bulls Are
,.t in for Heavy Losses.
:, Cots Festive Under the lnqui.
of the Pacific Railroad
commissioners.
,-.,s Election Regarded With
,,,suding by the English
Tory Press.
,rrIS AND BEARS.

:. vcsco, August "a big bull des
:. collapsed here to-day. Their
7, uutterings of trouble for sevcra
,,bs outcome was not entirely un
, Too prices were reached las
sen the bulls Offered $2.16K PEI
.beat. Yesterday the market
" s214. This made the price
pound in San Francisco 'aeains'
y VIZ i Chicago, X cents in New Yorl
slOiu Liverpool.
,vr COLLAPSE OF THIS DEAL
:. attended by the usual excitement
,.;on. Of the Call Board were ad'
y under a resolution adopted by the
:, directors and posted on the door
Exchange. The reason given was a
.n avert the threatened panic. This
uot altogether unanticipat ted. and
"a az nf n relief was expressed by both
Who have been strained to their
auriue the past few days. No fail
rs reported mp to late hour tins
~ oon and it is believed that all deals
m compromised so as to avoid any
disasters on the street. Two Of
ibull traders were William Dress
,Jnhn Rosenfelt, but the theory is
That they represented other in
They
,,r KNowN To BE RESPONSIBLE
ooO tons of whea t held..under various
.tor delivery during this year. These
ts now stand at $2.15 per GENITAL.
make an offer to settle on the follow
nr To settle and pay at once ten
nor ~ cental as soon as sellers have the
rsady for delivery and teDder it.;
10 nav 35 cents per Genital, which
leave the price standing. with a
. dine Of sl.7O. This they propose
INF and payfor one-iourth in Sepsein-
f.Iour,h in October. onefourth in
her and the final one-fourth ia
her, They also propose to pay
interest at the rate of seven per cent
MIN on al deferred paymentat to.
with the customary storage and
nee charges.
TO SECURE THE MARGIN
cents per ton they propose to de-
ample security in the form OF wheat
the Board Of Directors. In other
they asked sellers to carry wheat
Dir direction, and will pay them for
80. The total amount OF wheat
lonps" have been shouldering, is vari
computed, hnt rs an evidence OF the
bitude 0f the deal, it is stated it has
red $19OO0O0O to carry the grain
Ny at Liverpool and on the way, to.
rwith the great quantities in store iu
uses In this State. The local banks
nrsue conservative course in thu
and sturdily refused to interfere
bit to loan their Gust omers money al
rrates.
THE COLLATERAL PUT UP
enng for advances has been mostl.
(icates Of wheat on hand. An inter
/ question OF the future will be tn
|nbip Of one-half OF the hypothecatet
!. The action taken by the Board o
Ftors in stopping all board sessions j
'Fd very remarkable, but that it ha
led a panic is conceded. Doresbach
Osition was accepted this forenoo
The virtual result is that speculator
brokers' have agreed to keep thei
soff the m rket for the time being
10Th bulls and bears have backe
the money squeezed out OF ''shorts
u margins will be refunded and the
'se nothing. On the other hanf
iDa's wheat has substantially cos
'l.65 and they
WILL LOSE THE DIFFERENCE
en- that and the actual market pric
leiulfilment OF a great scheme I
! the market. Doresbach had tn
so badly scared that they were wi
get out without making anythin
z the outcome one OF the most 7
able on record. Many OF the shor
out ahead on the settlement, b.
from the loss inflicted on the bl
no firm losses are mentioned in e
1860, 600. Sessions Of the call boa
been postponed indefinitely and Il
lprice OF wheat cannot be determin
veral days, although the nominal t
N.7O.